KLP Kapitalforvaltning AS Purchases New Position in Merchants Bancorp (NASDAQ:MBIN)

KLP Kapitalforvaltning AS acquired a new stake in Merchants Bancorp (NASDAQ:MBIN - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 10,250 shares of the company's stock, valued at approximately $375,000.

Several other institutional investors and hedge funds also recently made changes to their positions in MBIN. Kestra Investment Management LLC acquired a new position in Merchants Bancorp during the 4th quarter worth about $25,000. Bank of Jackson Hole Trust bought a new position in shares of Merchants Bancorp during the fourth quarter worth about $82,000. Matrix Trust Co lifted its stake in shares of Merchants Bancorp by 730.8% in the fourth quarter. Matrix Trust Co now owns 2,642 shares of the company's stock worth $96,000 after acquiring an additional 2,324 shares during the period. FMR LLC boosted its holdings in Merchants Bancorp by 214.5% in the third quarter. FMR LLC now owns 3,957 shares of the company's stock valued at $178,000 after acquiring an additional 2,699 shares during the last quarter. Finally, Hohimer Wealth Management LLC bought a new stake in Merchants Bancorp in the third quarter valued at approximately $202,000. Institutional investors and hedge funds own 24.57% of the company's stock.

Merchants Bancorp Trading Down 6.8 %

MBIN traded down $2.37 during trading on Thursday, hitting $32.40. The company's stock had a trading volume of 202,951 shares, compared to its average volume of 189,729. The firm has a market capitalization of $1.49 billion, a P/E ratio of 5.13 and a beta of 1.15. Merchants Bancorp has a twelve month low of $31.30 and a twelve month high of $53.27. The company has a quick ratio of 0.85, a current ratio of 1.15 and a debt-to-equity ratio of 2.40. The stock's fifty day moving average price is $38.94 and its 200-day moving average price is $39.63.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last released its earnings results on Monday, February 3rd. The company reported $1.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.27 by $0.58. Merchants Bancorp had a net margin of 22.08% and a return on equity of 22.86%. Analysts anticipate that Merchants Bancorp will post 5.54 EPS for the current year.

Merchants Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date was Friday, March 14th. This is a boost from Merchants Bancorp's previous quarterly dividend of $0.09. Merchants Bancorp's dividend payout ratio is 6.34%.

Insider Activity

In other news, insider Scott A. Evans sold 25,000 shares of the company's stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $43.10, for a total transaction of $1,077,500.00. Following the transaction, the insider now directly owns 27,606 shares of the company's stock, valued at $1,189,818.60. This represents a 47.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 39.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

MBIN has been the subject of several analyst reports. Morgan Stanley lowered their price target on shares of Merchants Bancorp from $47.00 to $45.00 and set an "equal weight" rating for the company in a report on Thursday, March 13th. Raymond James lowered their target price on shares of Merchants Bancorp from $53.00 to $45.00 and set an "outperform" rating for the company in a research note on Wednesday, April 2nd. Finally, Piper Sandler upped their price target on shares of Merchants Bancorp from $52.50 to $56.50 and gave the company an "overweight" rating in a research report on Thursday, January 30th.

Merchants Bancorp Profile

Merchants Bancorp operates as the diversified bank holding company in the United States. It operates through three segments: Multi-family Mortgage Banking, Mortgage Warehousing, and Banking. The Multi-family Mortgage Banking segment engages in the mortgage banking, which originates and services government sponsored mortgages, including bridge financing products to refinance, acquire, or reposition multi-family housing projects, and construction lending for multi-family and healthcare facilities.